BC Enacts "Short-Term Rental Accommodations Act"

BC Government sets new rules on short term rentals which places limits in certain areas within the province restricting homeowners and investors from running Airbnb style rental properties. This affects approximately 100,000 people and has mixed emotions amongst people who currently operate Airbnb/short term rental properties. There are some predictions that this will increase the number of investors moving their purchases to Alberta for more flexibility in their investment opportunities. 

The major restriction the government has imposed is that the property must be considered the homeowner's primary residence, which means investors purchasing properties for the sake of investment only, would not be able to run a short term rental property within that residence. Now it is to note that there are some exempted areas including Fernie, Golden, Whistler, Invermere, Revelstoke and 9 other municipalities that are considered "resort" areas, however at this time, the program is not accepting new entrants into this program. 

For more information on the subject, you can visit the BC government website here >